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Did you hit a parallel importer? Pay 100 million shekels - voila! Of money


The Economic Committee approved the Minister of Economy's bill, which sets a fine of up to 100 million NIS on an official importer who tries to harm a parallel import, the law will soon go up for a second and third reading

Containers of goods with parallel imports (from China).

A significant fine against an importer who tries to prevent parallel imports (Photo: Reuters, Reuters)

Has the government begun to mobilize, even if painfully late, on the main issue that preoccupies all Israeli citizens, the cost of living?

In a difficult week in terms of the wave of price increases, in which consumers were informed of a jump in the prices of milk and its products, the Economic Committee may have succeeded in giving the legislators a tool that will allow them to attack monopolies in the import sector.

One of the well-known problems in the field is that of the "official" and main importers, who try to fight the phenomenon of parallel imports, not only with legitimate commercial means, but also with measures that are apparently not in line with the law.

The problem is that until now the regulator did not have the tools to make the importer think twice before trying to harm a parallel importer.

The Economic Committee chaired by David Bitan approved the bill brought by the Minister of Economy and Industry Nir Barkat to prevent damage to the corresponding import, through huge fines up to NIS 100 million.

The new law that will soon be voted on in the second and third readings in the Knesset will prohibit direct importers from performing an act as a result of which parallel imports may be harmed and thus competition in the industry may be harmed.

An official importer who violates the law will face a fine of up to NIS 100 million.

Economy Minister Nir Barkat: "Unfortunately, Israeli citizens have become accustomed to paying much more for products that cost much less in Europe" (Photo: Reuven Castro)

Minister of Economy and Industry Nir Barkat

: "I congratulate the Economic Committee and its members, David Bitan, chairman of the committee, for approving the important proposal that will make it possible to increase competition in imports and open the market to parallel imports without the interference of the official importers.

Unfortunately, Israeli citizens have become accustomed to paying much more for products that cost much less in Europe.

Part of the problem is lack of competition and concentration of imports.

This is one step towards further steps in a broad program aimed at opening the market to competition, breaking up the monopolies and lowering prices.

There is no reason for Israeli citizens to pay much more because of market failures."

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MK David Bitan, Chairman of the Economy Committee (Photo: Knesset Spokesperson, Noam Moshkowitz)

  • Of money

  • news


  • will come

  • Parallel imports

  • Economic Committee

  • Nir Barkat

  • Minister of Economy

Source: walla

All business articles on 2023-05-03

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